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Fly News Breaks for October 24, 2018
EDU
Oct 24, 2018 | 09:14 EDT
Benchmark analyst Fawne Jiang noted New Oriental Education reported mixed Q1, with better than expected revenue and an earnings shortfall caused mainly by higher operating expenses and online investments. She anticipates New Oriental will likely face near-term margin pressure due to costs associated with regulatory changes and ongoing investments and lowered her price target to $80 from $105, but keeps a Buy rating on the shares as Jiang remains positive on its top-line growth.
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